UPDATED: Nigeria’s inflation hits 25.80% as food prices rise

Nigeria’s annual inflation rate rose to 25.80 per cent in August from 24.08 per cent in the previous month, the National Bureau of Statistics (NBS) said Friday.

The statistics office said the August headline inflation rate shows an increase of 1.72 per cent points when compared to the July headline inflation rate.

The NBS said on a year-on-year basis, the headline inflation rate was 5.27 per cent points higher compared to the rate recorded in August 2022, which was 20.52 per cent.

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